Canara Housing Development Co. v. DCIT

K.G. Krishna, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…he Act in the absence of incriminating material is bad in law in the case of unabated and completed assessments.” 6.3 Ld. D.R. submitted that in view of the judgement of Hon’ble Karnataka High Court in the case of Canara Housing Development Company Vs. DCIT (274 CTR 122)(Kar), wherein it was held that ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 24 of 89 once the assessment is validly reopened, AO has to take into account all the 3 types of income to complete the assessment or reassessment, as the case may be. The 3 types of income are: 1) Income disclosed in the return of income 2) Undisclo…

K.G. Krishna, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…he Act in the absence of incriminating material is bad in law in the case of unabated and completed assessments.” 6.3 Ld. D.R. submitted that in view of the judgement of Hon’ble Karnataka High Court in the case of Canara Housing Development Company Vs. DCIT (274 CTR 122)(Kar), wherein it was held that ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 24 of 89 once the assessment is validly reopened, AO has to take into account all the 3 types of income to complete the assessment or reassessment, as the case may be. The 3 types of income are: 1) Income disclosed in the return of income 2) Undisclo…

K.G. Krishna, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…he Act in the absence of incriminating material is bad in law in the case of unabated and completed assessments.” 6.3 Ld. D.R. submitted that in view of the judgement of Hon’ble Karnataka High Court in the case of Canara Housing Development Company Vs. DCIT (274 CTR 122)(Kar), wherein it was held that ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 24 of 89 once the assessment is validly reopened, AO has to take into account all the 3 types of income to complete the assessment or reassessment, as the case may be. The 3 types of income are: 1) Income disclosed in the return of income 2) Undisclo…

K.G. Krishna, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…he Act in the absence of incriminating material is bad in law in the case of unabated and completed assessments.” 6.3 Ld. D.R. submitted that in view of the judgement of Hon’ble Karnataka High Court in the case of Canara Housing Development Company Vs. DCIT (274 CTR 122)(Kar), wherein it was held that ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 24 of 89 once the assessment is validly reopened, AO has to take into account all the 3 types of income to complete the assessment or reassessment, as the case may be. The 3 types of income are: 1) Income disclosed in the return of income 2) Undisclo…

K. G. Krishna, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…he Act in the absence of incriminating material is bad in law in the case of unabated and completed assessments.” 6.3 Ld. D.R. submitted that in view of the judgement of Hon’ble Karnataka High Court in the case of Canara Housing Development Company Vs. DCIT (274 CTR 122)(Kar), wherein it was held that ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 24 of 89 once the assessment is validly reopened, AO has to take into account all the 3 types of income to complete the assessment or reassessment, as the case may be. The 3 types of income are: 1) Income disclosed in the return of income 2) Undisclo…

Assistant Commissioner of Income Tax Central Circle-2(1), Bangalore vs. M/S Chaitanya Properties Pvt Ltd, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…se for issue of notice u/s.153C of the Income Tax Act, 1961 and also relying on the Boards Circular 24/2015 dated 31.12.2015. The ld. DR brought to our notice the decision of the Karnataka High Court in the case of M/s. Canara Housing Development Corporation (49 Taxmann.com 98) wherein it was held that "total income" and not merely "undisclosed income" that is required to be assessed in proceedings u/s 153A which are applicable in proceedings u/s 153C also. He therefore prayed for allowing the appeals filed by the revenue. 6. The ld. AR submitted that the AO has not discharged the burden of proving that there is…

Assistant Commissioner of Income Tax Central Circle-2(1), Bangalore vs. M/S Chaitanya Properties Pvt Ltd, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…se for issue of notice u/s.153C of the Income Tax Act, 1961 and also relying on the Boards Circular 24/2015 dated 31.12.2015. The ld. DR brought to our notice the decision of the Karnataka High Court in the case of M/s. Canara Housing Development Corporation (49 Taxmann.com 98) wherein it was held that "total income" and not merely "undisclosed income" that is required to be assessed in proceedings u/s 153A which are applicable in proceedings u/s 153C also. He therefore prayed for allowing the appeals filed by the revenue. 6. The ld. AR submitted that the AO has not discharged the burden of proving that there is…

Confident Projects (India) Private Limited, Bangalore vs. The Principal Commissioner of Income Tax (Central), Bangalore

In the result, the appeals filed by the assessee are allowed

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri Laxmi Prasad Sahu, AM ITA No.409/Bang/2021 : Asst.Year 2011-2012 ITA No.336/Bang/2021 : Asst.Year 2012-2013 M/s.Confident Projects (India) The Principal Commissioner of Private Limited, Income-tax (Central) v. Bangalore. No.574 Park House, 8th Block Koramangala Bangalore – 560 095 PAN : AACCC7506L (Appellant) (Respondent) Appellant by : Smt.Pooja Maru, CA Respondent by : Sri.Sumer Singh Meena, CIT-DR Date of Pronouncement : 13.05.2022 Date of Hearing : 12.05.2022 O R D E R Per George George K, JM : These…

Confident Projects (India) Private Limited, Bangalore vs. The Principal Commissioner of Income Tax (Central), Bangalore

In the result, the appeals filed by the assessee are allowed

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri Laxmi Prasad Sahu, AM ITA No.409/Bang/2021 : Asst.Year 2011-2012 ITA No.336/Bang/2021 : Asst.Year 2012-2013 M/s.Confident Projects (India) The Principal Commissioner of Private Limited, Income-tax (Central) v. Bangalore. No.574 Park House, 8th Block Koramangala Bangalore – 560 095 PAN : AACCC7506L (Appellant) (Respondent) Appellant by : Smt.Pooja Maru, CA Respondent by : Sri.Sumer Singh Meena, CIT-DR Date of Pronouncement : 13.05.2022 Date of Hearing : 12.05.2022 O R D E R Per George George K, JM : These…

Deputy Commissioner of Income Tax, Central Circle-2(1), Bengaluru vs. M/S. Chaitanya Properties Private Limited, Bengaluru

In the result, the appeals filed by the Revenue is dismissed

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri Laxmi Prasad Sahu, AM ITA No.418/Bang/2021 : Asst.Year 2012-2013 The Assistant Commissioner of M/s.Chaitanya Properties Income-tax, Central Circle 2(1) Private Limited v. Bengaluru. No.17 Sankey Road, Bangalore – 560 020. PAN : AAACC5900A. (Appellant) (Respondent) Appellant by : Sri.Sumer Singh Meena, CIT-DR Respondent by : Sri.Narendra Sharma, Advocate Date of Pronouncement : 10.05.2022 Date of Hearing : 10.05.2022 O R D E R Per George George K, JM : This appeal at the instance of the Revenue is directed…

M/S P. Shyamaraju & Co.(I) Pvt. Ltd., Bangalore vs. ACIT, Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

M/S P. Shyamaraju & Co.(I) Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

P. Shyamaraju & Co.(I) Pvt. Ltd., Bangalore vs. DCIT, Central Circle-2(2), Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

M/S P. Shyamaraju & Co.(I) Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

M/S P. Shyamaraju & Co (I) Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

Asst.C.I.T., Bangalore vs. M/S Shyamaraju & Co India Pvt. Ltd., Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

Asst.C.I.T., Bangalore vs. M/S Shyamaraju & Co India Pvt. Ltd., Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

Asst.C.I.T., Bangalore vs. M/S Shyamaraju & Co India Pvt. Ltd., Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

Asst.C.I.T., Bangalore vs. M/S Shyamaraju & Co India Pvt. Ltd., Bangalore

In the result, the appeals filed by the assessee are partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

…n the case of other searched person is entitled to be utilized u/s 153A of the I.T.Act. In this context, the learned Standing Counsel relied on the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT reported in 274 CTR 122. It was submitted by the learned Standing Counsel that the order of the Bangalore Bench of the Tribunal in the case of Sri.Anil H.Lad v. DCIT (supra) is per incuriam, since the same has not considered the judgment of the Hon’ble jurisdictional High Court in the case of Canara Housing Development v. DCIT (supra). 5 ITA No.978/Bang/20114 & Ors. M/…

Deputy Commissioner of Income Tax, Central Circle-2(1), Bangalore vs. M/S. Chaitanya Properties Private Limited, Bengaluru

In the result, the appeals by the Revenue are dismissed

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

…ed 4. in the case of the assessee on 14.9.2018 in pursuance to the provisions of Section 153C of the I.T. Act. The CIT(A) has failed to consider the decision of Hon'ble High 5. Court of Karnataka in the case of M/s Canara Housing Development Co. Ltd. Vs. DCIT 48 Taxmann.com 98 wherein it is held that the assessing authority can take note of the income disclosed in the earlier return or which is not unearthed before the search in order to find out what is the total income of the year. For these and other grounds that may be urged upon, the order 6. of the CIT(A) may be reversed and that assessment order to be rest…